Alliance Resources Grows Weednanna Outside Mineral Resource Model

THE DRILL SERGEANT: Alliance Resources (ASX: AGS) announced results from a round of reverse circulation (RC) drilling carried out in December last year at the Weednanna gold deposit, which forms part of the Wilcherry project in South Australia.

Alliance Resources drilled 17 RC holes at the Weednanna deposit to test for extensions of gold mineralisation in the southern area of the deposit at Shoots 4, 5, 5E, 10, and 11.

The company said the results from this drilling program continued to grow the size of the Weednanna deposit outside of the maiden Mineral Resource model.

Shoots 4 and 5E continued to extend to the south with intersections of:

18WDRC053
8 metres at 5.3 grams per tonne gold from 75m, including 2m at 16.2g/t gold from 76m (Shoot 5E); and

18WDRC054
3m at 12.1g/t gold from 133m (Shoot 4).

Hole 18WDRC066 returned the first high-grade gold intersection from Shoot 11 of 2m at 16.1g/t gold from 126m.

Alliance believes a drill intersection of 6m at 12.7g/t gold encountered from 1m in hole 18WDRC051 may present a new near-surface extension of Shoot 4 or a possible new gold shoot.

“The validity of this intersection is however uncertain as these were the first metres drilled in the program and might be contamination,” the company said in its ASX announcement.

“A twin hole was drilled during February to determine the source of the gold.”

In 2018, Alliance announced a maiden Mineral Resources estimate for the Weednanna gold deposit of 1.097 million tonnes at 5.1g/t gold for 181,000 ounces of gold.

“The results of the December 2018 drilling program have returned significant results that extend Shoots 4, 5E, and 11 outside of the 2018 MRE model and remain open along strike or at depth,” Alliance said.

The Wilcherry project is a Joint Venture between Alliance (81.41%) and Tyranna Resources (ASX: TYX) (18.59%), with Alliance set to rake 100 per cent ownership in mid-March.

 

Email: info@allianceresources.com.au

Website: www.allianceresources.com.au